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LCL Resources (ASX:LCL) Announces Maiden Mineral Resource

ClubAI 6:26 pm

Maiden Mineral Resource Estimate

LCL Resources Ltd (ASX:LCL) has announced a maiden JORC Mineral Resource estimate for its 100% owned Ono Gold Project in Papua New Guinea. The Inferred Mineral Resource comprises 18.3 million tonnes at a grade of 1.42 grams per tonne gold, totaling 831,000 ounces of gold, reported at a 0.5 g/t Au cutoff. The resource estimate was modelled by WSP Australia Pty Ltd based on recent and historical drilling data.

Executive Comments

Executive Chairman Chris van Wijk stated, “We are proud to announce our Maiden Mineral Resource Estimate at the Kusi target in PNG which neatly underscores the geological potential at the Project. Further exploration is warranted to investigate the tenor and scale of mineralisation in the Lower Limestone unit.”

Future Exploration Plans

The Company plans to conduct a 3D Induced Polarity survey to target deeper mineralisation and define the intrusive margins. Additionally, soil sampling and further drilling are anticipated to enhance the resource estimate and explore additional Copper-Gold opportunities within the PNG portfolio.

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Motley Fool contributor Lianne Eastty has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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